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Article: Envoy taps new markets with Leagas Delaney buy; Canadian agency doubles billings with purchase of London hotshop.(Brief Article)
- Article from:
- Advertising Age
- Article date:
- November 13, 2000
- Author:
CopyrightCOPYRIGHT 2000 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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[toronto] The latest aspiring international communications network builders -- following the British and the French -- are the Canadians.
Envoy Communications Group last week purchased for $85.8 million Leagas Delaney, a London hot shop that has opened other offices in Europe and San Francisco to accommodate a growing international business, as its entree into new markets. Leagas Delaney's biggest international client is Adidas.
Envoy claims that the purchase of Leagas will double the size of the Envoy group holding company to annual billings of $500 million. Envoy is making an initial payment to Leagas Delaney of about $36 million, including about $13 ...